Finance and Banking News

KARACHI: MCB has shown remarkable performance in first quarter of 2011 as Profit before tax and after tax has reached to the level of 7.8 bn and 5.02 bn respectively. This increase is about 25% and 21% more as compare to the corresponding quarter of the last year. The Board meeting of Directors held on [...][Continue Reading...]

Lloyd’s banking group is one of the largest banks of Britain serving in the field of Consumer or Retail sector, having 30% of market share of current account. During the financial crisis the bank was taken over by HBOS group. The HBOS group headed by António Horta-Osório has spent almost two years expanding towards investment [...][Continue Reading...]

WASHINGTON: The Pakistani Federal Finance Minister, Mr. Abdul Hafeez is quite confident about new investments in energy sector, he was talking to the delegations from international financial institutions and also his counterparts from different countries. While talking to a press conference at the event, he said that they became successful in conveying message to the [...][Continue Reading...]

US Under Secretary for Economic, Energy and Agriculture affairs at IMF and World Bank gathering assured Pakistani Finance Minister Mr. Abdul Hafeez Sheikh, US support for accessing European markets for Trade activities. Dr. Sheikh also briefed German and British leaders about the Government of Pakistan’s efforts for development and economic stability in the country. The [...][Continue Reading...]

The finance officials from Group of Seven Industrialized nations & G-20 major economic powers will meet in for spring meetings for IMF and World Bank. The Japanese finance minister’s comments on Forex are as “A joint intervention was conducted by G-7 national on March 18, I would like to express my gratitude and and also [...][Continue Reading...]

The Independent Commission (ICB) on Banking said that UK customers will have to pay more for availing the safety from the effects of any future financial crises. The Chairman of the Commission Mr. John Vickers said that the proposal presented will partly affects the banks’ profitability, remuneration of banking staff and also will partly affect [...][Continue Reading...]

The State Bank of Pakistan of Pakistan has shown its concern over the increasing inflation in the country. According to the SBP’s official release, the bank’s projection for FY2011 is 14.5 – 15.5%. This estimated inflation rate is slightly less than the World Bank’s forecasted inflation of 16% for Pakistan. The head of InvestCap Mr. [...][Continue Reading...]